Rust Foundation
- Assets
- $1.7m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Dover, DE
- Founding
- Data as of
- 12/2021
- EIN
- 85-4376974
Organization Overview
Rust Foundation is located in Dover, DE. Rust Foundation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE FOUNDATION IS TO: (A) SUPPORT THE MAINTENANCE AND DEVELOPMENT OF THE RUST PROGRAMMING LANGUAGE AND RELATED PROJECTS (THE "PROJECTS"); (B) CULTIVATE THE RUST PROJECT TEAM MEMBERS AND USER COMMUNITIES, INCLUDING BY PRODUCING EVENTS; (C) MANAGE THE TECHNICAL INFRASTRUCTURE UNDERLYING THE DEVELOPMENT OF RUST; (D) MANAGE AND STEWARD THE RUST TRADEMARK AND OTHER ASSETS OF THE FOUNDATION; AND (E) UNDERTAKE SUCH OTHER ACTIVITIES AS MAY FROM TIME TO TIME BE APPROPRIATE TO FURTHER THE PURPOSES AND ACHIEVE THE GOALS SET FORTH ABOVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDED SUPPORT TO THE MAINTENANCE AND DEVELOPMENT OF THE RUST PROGRAMMING LANGUAGE THROUGH THE PROVISION OF SEVERAL EVENTS (ONLINE DUE TO THE PANDEMIC) SUCH AS RUSTCONF AND THE REGULAR 'TOWN HALL' MEETINGS.
THE FOUNDATION DEVELOPED A GOVERNANCE STRUCTURE THAT WAS INCLUSIVE OF THE RUST PROJECT TEAM MEMBERS, AND ESTABLISHED SPECIFIC COMMITTEES AND CONTRACTS TO GOVERN THE INTERESTS OF THE ORGANISATION. WORK ON SECURING THE RUST TRADEMARK IN TERRITORIES OUTSIDE OF THE US WAS STARTED, AND CREDITS TO SUPPORT THE RUST PROJECT INFRASTRUCTURE WERE PROVIDED FOR COMMUNITY USE.
A FULL TIME EXECUTIVE DIRECTOR / CEO WAS RECRUITED, WITH THE RECRUITMENT EXERCISE RUNNING FROM JUNE 2021-OCTOBER 2021, WITH THE NEW HIRE BEGINNING IN POST DURING NOVEMBER 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shane Miller Chair | OfficerTrustee | 5 | $0 |
Mark Rousskov Secretary | OfficerTrustee | 2.5 | $0 |
Bobby Holley Director | Trustee | 2.5 | $0 |
Joel Marcey Director | Trustee | 2.5 | $0 |
Lars Bergstrom Director | Trustee | 2.5 | $0 |
Nell Shamrell-Harrington Director | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $650,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $650,000 |
| Total Program Service Revenue | $1,424,917 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,074,961 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $139,635 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,439 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,138 |
| Fees for services: Accounting | $30,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,919 |
| Advertising and promotion | $98,618 |
| Office expenses | $121 |
| Information technology | $2,505 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,548 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57 |
| Insurance | $3,097 |
| All other expenses | $146,180 |
| Total functional expenses | $626,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,183,748 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $555,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,757 |
| Net Land, buildings, and equipment | $1,993 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,745,498 |
| Accounts payable and accrued expenses | $33,861 |
| Grants payable | $0 |
| Deferred revenue | $262,833 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $296,694 |
| Net assets without donor restrictions | $1,448,804 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,745,498 |